The 18 luxury units at 28 Broad St. were sold by 28 Broad St. LLC to another limited liability corporation, New Hampshire-based Broad Street LLC, on Jan. 13, said Michael Cobb, a broker at Cardente Real Estate of Portland.

“It is an out-of-state investor who was interested. He liked the tenant mix and income ratios coming in from that. That’s where the number [sale price] comes from,” Cobb said. “On this type of property, in Bangor, I haven’t seen any other properties sell for this kind of price point.”

Former building owner Roy Hubbard said he and his partners were tempted to hang onto the building but the sale made sense.

“We certainly got a healthy per-unit price, which we are very happy about,” Hubbard said Wednesday. “I have mixed feelings about selling, but at the end of the day, I am not a landlord. I am a developer. My job is to bring something back to life. Then I find something else to bring back to life.”

Hubbard is interested in continuing to rehabilitate buildings in Bangor, if he finds the right deal. Bangor’s market is growing, he said.

“It is scarce to find unused square footage downtown. When I got started, downtown the vacancy rates were incredible. It’s just not the case now,” Hubbard said. “I would be more inclined to do lower-rent apartments. I think with the higher-rent per-square-foot apartments, it’s hard to find space for that which could work. I think there is still a demand for that, but you need to get more people in there. It is easier for more developers to go lower-scale, to something more moderate.”

“I like Bangor,” Hubbard added. “It’s too expensive in Portland. Bangor is the only place I am really comfortable investing in. It is quieter and a lot more personal to me.”